Sterling falls on fears of uncertainty May 7, 2010 STERLING sank to a one year low today as markets reacted badly to the possibility of a hung parliament. The pound fell as low as $1.4596 as investors turned to safer currencies, namely the dollar, for stability. Duncan Higgins from Caxton FX said: “The outlook for sterlng is negative from here. The dollar is the [...]
FTSE panics at the off but recovers some of its losses May 7, 2010 The FTSE fell 6.6 points to 5254.36 this morning as investors woke up to the prospect of a hung parliament. Panic on the opening bell caused the blue chip index to lose 100 points but it later recovered. “Sterling has been the worst affected by the news of the hung parliament but there has undoubtedly [...]
UK gilt yields rise on fears of fresh political disarray May 7, 2010 GILT futures pared early gains today as initial optimism that the Conservatives could form a workable government gave way to fears about prolonged post-election uncertainty. Traders woke up to news that the closest election in decades remained too close to call, with initial results suggesting the Conservatives would be the largest party but fall short [...]
Business says it needs bold leadership May 7, 2010 Business leaders have expressed their deepest fears about the country being in a state of limbo and warned that severe damage could be done to the UK economy unless politicians make a decision quickly as to who will form the next Government. Miles Templeman, director-general of the Institute of Directors, said: “It’s vital that this [...]
City’s business owners berate “rotten” result May 7, 2010 THERE was widespread disappointment amongst the City’s entrepreneurs about the prospect of a hung parliament, with many feeling a lack of leadership will stunt business growth. “This is a rotten result,” said Chris Oulton, founding partner at Prime Rate Capital Management. “Business is all about effective decision making and it helps to have a political [...]
WHAT DOES THE ELECTION MEAN FOR BRITISH BUSINESS? May 7, 2010 DAVID FROST | BRITISH CHAMBERS OF COMMERCE “At this stage, a hung parliament is not the best result for business. The UK needs strong and decisive leadership at this time of global financial turmoil. It is imperative that we see an early resolution as to who is going to be occupying Number 10 and Number [...]
All sides lose out in bloody election scrap May 7, 2010 ALL sides suffered heavy losses in an election none of the main parties will remember fondly. While there was no “Portillo moment” a number of senior scalps fell during the gruelling battle. Former home secretary Jacqui Smith was the most high profile victim. She suffered a humiliating defeat in Reddich, with Tory candidate Karen Lumley [...]
Key London central seats go to Labour… May 7, 2010 A STRING of failures in crucial central London target seats left the Conservative party reeling as the election results came in earlier today. Disappointing results in a trio of David Cameron’s most coveted target seats – Westminster North, Hammersmith and Tooting – knocked the party off course early on in its quest for an overall [...]
Esther Rantzen campaign fails May 7, 2010 VETERAN television presenter Esther Rantzen saw her budding political ambitions go up in smoke today after her anti-sleaze stance as an independent campaigner in Luton South failed to net enough votes to retain her deposit. Rantzen’s candidacy did not help the Tory cause in London, after Labour held on to the seat with 34.9 per [...]
Twickenham proves easy hold for Lib Dems’ Cable May 7, 2010 LIB Dem treasury spokesman Vince Cable today proved one of few shining lights on the horizon for his party, storming to victory in Twickenham with 54.4 per cent of the vote. Cable, who swung a further 0.5 per cent of voters in his constituency towards the Lib Dems since the 2005 election, admitted that his [...]
